The price of Solana (SOL) has been surging, reaching $60 and experiencing a 44% rally since the beginning of the week. However, it has pulled back slightly from earlier highs. Solana's price increase is attributed to its break above previous highs and the growing optimism surrounding Bitcoin and Ethereum ETFs. Solana has outperformed other cryptocurrencies in the top 20 by market capitalization, and indicators suggest increasing interest from institutions. On-chain metrics show increased activity on the Solana network, and the total value locked in smart contracts has reached its highest level since October 2022. Open interest and funding rates for leveraged futures positions indicate rising demand from institutional investors. Inflows from institutions have helped the Solana market overcome significant token sales from FTX. With key resistance broken, further gains for Solana are expected, potentially reaching 30%. Price predictions remain bullish, and a $100 price target seems achievable. The current bull market is expected to continue, especially if spot Bitcoin ETFs are approved. Despite its significant increase, SOL is still significantly lower than its 2021 highs, indicating further potential for growth.
Подпишитесь на нашу рассылку и получайте информацию о выходе новых статей, информацию об эксклюзивных скидках и другое
Или же подпишитесь на наш Telegram, чтоб всегда быть в курсе наших новостей.